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REVISED RESTRICTED STOCK UNIT AGREEMENT

Shareholder Agreement

REVISED RESTRICTED STOCK UNIT AGREEMENT | Document Parties: SYNOVUS FINANCIAL CORP You are currently viewing:
This Shareholder Agreement involves

SYNOVUS FINANCIAL CORP

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Title: REVISED RESTRICTED STOCK UNIT AGREEMENT
Governing Law: Georgia     Date: 2/29/2008
Industry: Regional Banks     Sector: Financial

REVISED RESTRICTED STOCK UNIT AGREEMENT, Parties: synovus financial corp
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Exhibit 10.33
REVISED RESTRICTED STOCK UNIT AGREEMENT
     THIS REVISED RESTRICTED STOCK UNIT AGREEMENT (“Agreement”) is made effective as of the grant date set forth below by and between SYNOVUS FINANCIAL CORP., a Georgia corporation (the “Corporation”), and                      (“Executive”).
     WHEREAS, Executive has been awarded Restricted Stock Units (“RSUs”) under the Corporation’s 2007 Omnibus Plan (“Plan”).
     NOW, THEREFORE, in accordance with the provisions of the Plan and this Agreement, Executive hereby agrees to the following terms and conditions:
             
1.
  Grant of RSUs        
 
           
    Executive is hereby granted RSUs as follows:
 
           
 
  Date of Grant:                                             , 200                         
 
           
 
  Vesting Period:   Please refer to Section 2 of this Agreement    
 
           
 
  Total Number of RSUs:                                                
 
           
2.
  Vesting of RSUs        
(a) Vesting Conditions . If Executive remains in the continuous employ of the Corporation or a Subsidiary of the Corporation through the date(s) indicated in Column I below, the RSUs will become non-forfeitable (i.e., “vest”) to the extent indicated in Column II below:
             
(I)       (II)
If employment       the % of the RSUs
continues through   then   which vest is
___, 200___
        100 %
 
  [or]        
___, 200___
        ___ %
 
  [or]        
___, 200___
        ___ %
 
  [or]        
___, 200___
        ___ %
 
  [or]        
___, 200___
        ___ %
 
  [or]        
___, 200___
        ___ %

 


 
Such vesting will occur (to the extent indicated in Column (II) above) at the close of business on the applicable date(s) indicated in Column (I) above. Any RSUs which are not vested on the date of Executive’s termination of employment will be forfeited to the Corporation, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.
(b) Effect of Voluntary Termination or Termination for Cause or Suicide . If Executive’s employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all RSUs vest pursuant to the provisions of paragraph 4(a) above, then any RSUs which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.
(c) Effect of Death (Other Than by Suicide) or Disability . If Executive’s employment with the Corporation and its Subsidiaries terminates by reason of Executive’s death (other than by suicide) or Disability, then any RSUs which are not vested at the time of such termination will become vested automatically.
(d) Effect of [Retirement or] Leave of Absence . [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of [age 62 and 15 years of Service] [age 65], then any RSUs which are not vested at the time of such retirement will become vested automatically.] A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.
(e) In the event of a Change of Control (as defined in the Plan), the RSUs will vest immediately upon such Change of Control.
(f) No Forfeiture of Vested RSUs . Any RSUs which vest pursuant to the preceding provisions of this Section 2 will not thereafter be forfeited.
3.   Conversion of RSUs and Issuance of Shares
Upon vesting of the RSUs, one share of the Corporation’s Common Stock shall be issued for each RSU that vests on such vesting date, subject to the terms and conditions of this Agreement and the Plan.

2


 
4.   Transfer of RSUs
Unless otherwise permitted by the Committee, the RSUs may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than pursuant to a will or the laws of descent and distribution. Any attempted disposition in violation of this Agreement and the Plan shall be void.
5.   Status of Executive
The Executive shall not be, or have rights as, a stockholder of the Corporation with respect to any of the shares of Common Stock subject to the RSUs unless such RSUs have vested, and shares underlying the RSUs have been issued and delivered to him or her. The Corporation shall not be required to issue or transfer any certificates for shares of Common Stock upon vesting of the RSUs until all applicable requirements of law have been complied with and such shares have been duly listed on any securities exchange on which the Common Stock may then be listed.
6.   Dividend Equivalents
The RSUs will be credited with dividend equivalents equal to amount of cash dividend payments that would have otherwise been paid if the shares of the Corporation’s Common Stock represented by the RSUs (including deemed reinvested additional shares attributable to the RSUs pursuant to this paragraph) were actually outstanding. These dividend equivalents will be deemed to be reinvested in additional shares of the Corporation’s Common Stock determined by dividing the deemed cash dividend amount by the Fair Market Value (as defined in the Plan) of a share of the Corporation’s Common Stock on the applicable dividend payment date. Such credited amounts will be added to the RSUs and will vest or be forfeited in accordance with Section 2 based on the vesting or forfeiture of the initial RSUs to which they are attr

 
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